Scripps and Knight-Ridder Exchange Newspapers

CINCINNATI, Ohio – The E. W. Scripps Company has reached an agreement to trade two of its California newspapers – the Monterey County Herald and the San Luis Obispo Telegram-Tribune – for Knight-Ridder’s Daily Camera, in Boulder, Colorado.The proposed swap supports both companies’ strategy to build clusters of newspapers in growing regions of the nation.The Daily Camera, with circulation of 34,000 daily and 42,000 on Sunday, will give Scripps two newspapers along the "Front Range" of the Rocky Mountains. Scripps also owns the Rocky Mountain News, Denver’s largest newspaper and Colorado’s oldest continuously operated business."The Daily Camera is an outstanding local newspaper with an impressive journalistic history and a deep commitment to public service," said William R. Burleigh, president and chief executive officer. "This is a great opportunity to boost the Scripps presence in one of our favorite regions – the Rocky Mountains."The two companies hope to complete the transaction before the end of August. "This exchange makes sense for Knight-Ridder and the Daily Camera," said Tony Ridder, Knight-Ridder chairman and chief executive officer. "Monterey and San Luis Obispo are good markets with potential for considerable growth. It’s a plus that they are relatively close, particularly Monterey, to our newspapers in San Jose and Contra Costa County."The Monterey County Herald, owned by Scripps since late 1992, has circulation of 35,000 daily and 39,000 on Sunday. The San Luis Obispo Telegram-Tribune, a Scripps paper for more than 50 years, has circulation of 34,000 Monday through Saturday."It is with great reluctance that we leave Monterey and San Luis Obispo," said Burleigh of Scripps. "However, we believe this exchange is in the best interest of all involved, and we’re confident that Knight-Ridder will be a great partner for these California communities.The Daily Camera published its first edition in 1891 and has operated from the same location in Boulder since 1892.Following completion of the Daily Camera transaction, Scripps will publish newspapers in 15 markets across the nation. The company also is in the process of acquiring six newspapers, one television station and a radio station from Harte-Hanks. Scripps currently operates nine network-affiliated TV stations and its entertainment division includes United Media, a syndicator and licensor of news features and comics; two TV programming production companies; and the Home & Garden Television cable network.